In this episode we're answering the question, “Why Do Some People Fail in Network Marketing?” and exploring…
- What Makes This Business Model Brilliant?
- Why Do Some People Succeed While Others Fail?
- FOUR Reasons Why People Fail in Network Marketing
While most people who read this page are likely involved in network marketing in some capacity and come to me for training…I’m finding more and more people explore my content because they are curious about the business model and looking into it.
For those folks…network marketing, also known as multi-level marketing (MLM), is a business model that involves selling products or services through a network of independent distributors. Simply put, Network Marketing is a distribution model. Instead of paying big bucks for advertising and shelf space in stores, network marketing companies market their products through a network of independent distributors. For this reason, it’s an incredibly efficient way of moving goods and services to end-users.
Nonetheless, while some people have achieved great success in this industry, others have failed miserably. So, why do people fail in network marketing? In this blog post, we will explore some of the common reasons why people fail in network marketing.
Why Do People Fail in Network Marketing? Here's FOUR reasons:
1. Lack of Persistence
One of the biggest reasons why people fail in network marketing is lack of persistence. Let me make this clear, network marketing is NOT a get-rich-quick scheme. In fact, VERY far from it. It requires extremely hard work, patience, and persistence. You need to be resilient to make it in this profession. In other words, you'll get knocked down and have to get back up, again and again.
There’s an old Chinese Proverb, “Fall down seven times, stand up eight.”
In all honesty, that pretty much sums it up. You’ve got to keep going, however most people simply quit. To tell the truth, lots of people join network marketing with an expectation of making a lot of money quickly and easily. I'm here to say that almost never happens. In fact, when they realize that it requires effort and time to build a successful business, they become discouraged and give up.
If more network marketers told the truth about the time, work and commitment it took to be a success, we’d see more success and less frustration. Because, as we all know, anything truly worthwhile takes time and effort.
If you’re ready to become a PRO in network marketing, I have a complete “How to Succeed in Network Marketing” training program that literally covers the ‘A to Z' of achieving success and prosperity in this business. You can get it here.
2. Poorly Focused Work Strategies
When someone is lacking confidence in something, which is quite common in network marketing, they tend do lots of busy activities. And…not doing enough of the RIGHT things that make them money.
That behavior seems odd, I know. But, when a person is faced with the idea that they have to talk to people, prospect and put themselves in slightly uncomfortable positions, they end up doing busy work instead of productive work. Not too many people like to feel uncomfortable because, well, it’s just not comfortable. So, they avoid it and that's a big reason why people fail in network marketing.
Even more, here's a little extra problem when it comes to why people fail in network marketing. We live in a consumption society. There’s so much STUFF out there that people can easily get caught up in or sucked in to. As a matter of fact, we’d call that a distraction…and it comes in many forms.
Consumption is a problem in network marketing. Let me be clear, I'm not referring to the consumption of superior products or services. Conversely, what I mean is that you’re either in a consuming mode or a productive mode. People can get themselves focused in a learning mode and not a doing mode. Moreover, they can endlessly scroll on social media or play the “post and pray” game…where they’re waiting for someone to respond and something to happen, rather than making something happen. Individuals fail in network marketing often times because they simply don’t do the right kind of work for long enough to see results.
3. Lack of Leadership Skills
You can’t be efficient in network marketing without, at some point, developing some degree of leadership skills. Sometimes it’s hard to look at yourself as a leader when you don’t have the self-perception of being one. In fact, I didn’t look at myself as a leader when I started network marketing. Much less, had the experience leading anyone. But, if you’re going win in this profession, you need to be a leader.
Maybe you’re not a great leader now…but, you best be working on some leadership skills and abilities if you expect to survive in this profession. People fail in network marketing all the time as a result of not intentionally working on developing their leadership skills.
For this reason, you need the ability to inspire and motivate others, communicate effectively, and lead by example. However, many people lack these skills and struggle to build a strong team…but those skills ARE learnable. How’s that for good news?! EVERYTHING in network marketing is learnable or figure-out-able. That being the case, if you don’t know how to do it you can learn to do it.
4. Insufficient Training and Support
Training and development are crucial in this business. Therefore, we can’t have tens of thousands of inexperienced people out there playing amateur hour. Still, this is one of the major reasons why people say that network marketing has a stigma. That stigma comes from overzealous people proclaiming that they are going to be rich and talking incessantly about their business. Additionally, they nag their friends, can’t shut up about their business or bounce from company to company. With skills, you become a pro. And when you become a pro, you approach the business differently.
And look, I’m a trainer, I've been in the game forever. A lot of network marketing companies provide decent, base level training and a degree of motivation, but most are not focused on TEACHING people HOW to do this business.
The GOOD, deep level training typically comes from the field, or guys like me. Many network marketing companies provide minimal training and support to their distributors, which can leave them feeling lost and unsure of how to build their business. Without proper guidance and support, it is easy for people to become overwhelmed and give up.
In summary, if you’ve ever wondered or asked yourself the question, “Why do people fail in network marketing?”, now you have some understanding of the reasons and can do something about it. Speaking of…
If you’re ready to become a PRO in network marketing, I have a complete “How to Succeed in Network Marketing” training program that literally covers the ‘A to Z' of achieving success and prosperity in this business. You can get it HERE
Thanks for tuning into The Fearless Networker™ Podcast. Listen to the show, comment and leave a rating to let me know what you think of this episode. Post any questions you may have and tell us about your experiences regarding this subject. I’m looking forward to hearing what you have to share.